Bitcoin cost still due $12K dip, says investor as ETF guru backs GBTC
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Bitcoin(BTC)remained uncertain at the Nov.24 Wall surface Road open as one trader strengthened a$ 12,000 BTC price target. < img src= "https://s3.cointelegraph.com/uploads/2022-11/1d191f6f-b922-46f4-8910-ccb111950694.png"/ > BTC/USD 1-hour candle graph(Bitstamp). Resource: TradingView BTC rate”main target”for bottom$12,000-$14,000 Information from Cointelegraph Markets Pro as well as TradingView showed BTC/USD circling around
$16,500 as an eerie tranquil continued on the market.The set however
James Seyffart, who in a dedicated Twitter thread claimed that despite market nerves, voluntary liquidation of the$10.5 billion GBTC was” unlikely.
“”That just doesn’t seem like its on the table to me,” he wrote.Acknowledging aggravation at the fund’s price cut to the Bitcoin area cost, Seyffart concluded that
eventually, offered the material available, there was a”99.9%chance” that it held the BTC it declared using custodian Coinbase.The GBTC area rate discount was at